Uruguay Inflation November 2018


Uruguay: Inflation edges higher in November

December 5, 2018

Consumer prices increased 0.4% from a month earlier in November, a couple notches faster than October’s 0.2% month-on-month rise. According to data released by the Statistical Institute, November’s reading was driven by a jump in health costs, which were offset by a fall in food and beverage prices.

Inflation was roughly stable, ticking up to 8.1% from 8.0% in October and still outside the Central Bank’s 3.0%–7.0% target. Pass-through pressures from the weak peso have contributed to the elevated inflation readings in recent months.

Meanwhile, annual average inflation rose to 7.5% from 7.4% in October, reaching a 17-month high.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2019 at 7.5%, which is unchanged from last month’s projection. For end-2020, panelists see inflation moderating to 6.8%.


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